Prospect, pdf - the SKF site for the capital market

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Intelligent inspection technologies SKF's commitment towards zero waste and zero defects has led to the development of advanced technologies for inspecting products and components. By adding intelligence into the inspection loop, SKF can today use the information generated to better control and verify the manufacturing processes. This can be used by applying non-destructive testing technologies like vision systems, eddy current, ultrasonic and other technologies built on magnetic properties of heat-treated steel. Combining it with the use of artificial intelligence, it is possible to detect the material defects and improve process control, as well as defining and predicting product properties. Near net shape forming Near net shape forming is a cluster of technologies from forging and pressing to rolling of rings and rolling elements that aim at forming a component to almost the final shape. This process enables the reduction of allowances in all operations, giving greater performance in SKF's manufacturing channels. Reduced allowances also have a significant impact on the environment as reduction of the manufacturing cycle time will reduce energy consumption and waste. To achieve the full benefit of reduced allowances, SKF is also exploring new ways of manufacturing bearings and components. This could involve new unconventional technologies or combinations thereof, as well as combinations of materials for taking advantage of properties from each material. SKF's Divisions As mentioned above, up to and including 2011, SKF's business was primarily carried out by the following three divisions: the Industrial Division, which serviced mainly industrial OEMs; the Service Division, which serviced mainly aftermarket customers; and the Automotive Division, which serviced mainly automotive OEMs and aftermarket customers. Industrial Division With manufacturing and operational sites and sales offices across the globe, the Industrial Division worked closely with OEM customers to develop new solutions based on the five technology platforms – bearings and units, seals, mechatronics, services and lubrication systems – to bring increasing value to customers. In addition to the products and solutions already available, a series of new market offers were introduced to the industrial markets during 2011. Many of these solutions strongly focus on helping customers increase their energy efficiency, as industries play an essential role in global greenhouse gas emission reductions and resource-use efficiency. Service Division The Service Division served the global industrial aftermarket, providing products and knowledge-based services to increase customers' plant asset efficiency. Solutions are based on SKF's knowledge of bearings, seals, lubrication systems, mechatronics and services, and customers are served by SKF and its network of over 7,000 authorized distributors. The division had five condition monitoring centres, who design and produce world-leading hardware and software. The expanding network of SKF Solution Factories will be the future infrastructure for delivering complete, integrated solutions and services incorporating all SKF's technology platforms. The Service Division is also responsible for all SKF's sales in certain markets. Automotive Division The Automotive Division served manufacturers of cars, light trucks, heavy trucks, trailers, buses, twowheelers and the vehicle service market, supporting them in bringing innovative and sustainable solutions to global markets. In addition, the division provided energy saving solutions for home appliances, power tools and electric motors. Within the Automotive Division, SKF developed and manufactured bearings, seals and related products and services. Products include wheel hub bearing units, tapered roller bearings, small deep 34
groove ball bearings, seals, and mechanical and electrical products for engine, steering and driveline applications. For the vehicle service market, the division provides complete repair kits, including a range of drive shafts and constant velocity joints. 35 Net sales by customer location (SEK million calculated at the rate for the respective years as at 31 December) Geographical area 2011 2010 Sweden 2,152 1,900 Europe excl. Sweden 28,183 26,109 North America 12,738 10,783 Asia Pacific 17,241 16,412 Other 5,902 5,825 TOTAL 66,216 61,029 Net sales by Division (SEK million calculated at the rate for the respective years as at 31 December) Division 2011 2010 Industrial Division 23,924 20,050 Service Division 23,024 21,403 Automotive Division 17,771 18,231 Other operations 1,497 1,345 TOTAL 66,216 61,029 As of 1 January 2012, SKF has formed three new business areas to replace the former divisions: SKF Industrial Market, Strategic Industries; SKF Industrial Market, Regional Sales and Service; and SKF Automotive. The main reason for this change is to create an organisation which will be able to better serve the need of customers within the industrial market. Industrial Market, Strategic Industries and the Industrial Market, Regional Sales and Service will both focus on managing the total life cycle of the customers' assets and will deliver a full range of products, services and solutions to both OEMs and end-users within different industries. SKF Automotive Division has been renamed to SKF Automotive.
Page 1 and 2: PROSPECTUS AKTIEBOLAGET SKF (a publ
Page 3 and 4: IMPORTANT INFORMATION RELATING TO T
Page 5 and 6: ___________________________________
Page 7 and 8: Political and regulatory risks Ther
Page 9 and 10: Difficulties integrating acquired b
Page 11 and 12: The Conditions also provide that th
Page 13 and 14: Legal investment considerations may
Page 15 and 16: CONDITIONS OF THE NOTES The followi
Page 17 and 18: 4.2 Interest Accrual Each Note will
Page 19 and 20: (b) is a Business Day in the place
Page 21 and 22: unless the withholding or deduction
Page 23 and 24: assets of the Issuer, and (ii) in a
Page 25 and 26: 14.3 Appointment of Process Agent T
Page 27 and 28: Global Note will, subject as set ou
Page 29 and 30: USE OF PROCEEDS The net proceeds of
Page 31 and 32: usiness areas to replace the former
Page 33: earings. Therefore, understanding t
Page 37 and 38: Asia currently accounts for almost
Page 39 and 40: Lubrication systems market SKF esti
Page 41 and 42: products and services which have a
Page 43 and 44: Sustainability SKF is committed to
Page 45 and 46: Joe Loughrey Board member since 200
Page 47 and 48: Carina Bergfelt General Counsel and
Page 49 and 50: 2011 2010 2009 Total 42,886 40,206
Page 51 and 52: TAXATION Persons considering the pu
Page 53 and 54: (ii) Resident holders of Notes Unde
Page 55 and 56: General No action has been taken by
Page 57 and 58: Documents Available 8. For the peri

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